Oh, and he doesn't discriminate against buffalo wings grilled or fried are just fine. Banco del Ecuador and Banco Comercial y Agricola continued issuing. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. (Default) Display the number as entered. Major Ecuadorian banks are Banco del Pacfico, Banco del Austro, Banco Pichincha, Banco Bolivariano, and Banco de Guayaquil. It also reported that of the total, 2,931,081.15 was deposited with the banks and that half of the remainder was still in circulation, the other half either exported or used by industry. Ecuador does not print paper money but relies on the US mints. But, as you will see below, Ecuador currency has experienced a long, difficult history. gold 900 fine dated 18991900 (Heaton mint). Finder makes money from featured partners, but editorial opinions are our own. We think the likely answer to this clue is SUCRE. For most travelers this is great news as it means Ecuador is an easy destination for travel money planning. The exchange rate had fallen to its lowest value. New York, NY, 10016. My daughter will be in Quito next week. It was reorganized in 1894 as Comercial y Agricola. Try to spend these coins while you are in Ecuador because they cannot be used in the US. These are globally accepted systems you can just check the back of your banking card to see if it will work on these systems. Besides, Banco de Guayaquil had no wish to continue minting: in minting 35,580 pesos, it had suffered a loss of 6,776 pesos (19%). On the flip side is the coins numeric value, the legend Banco Central del Ecuador, and the value of the coin spelled out in Spanish. This microprinting should be readable under a magnifying glass. Both currencies were to circulate, the dollar being used for all but the smallest transactions. This is not a good idea - the format isn't part of the currency, it's a regional preference. Traveler's checks are a safe way to carry money in Ecuador. On March 9, 2000, Noboa signed a law passed by Congress, replacing the sucre with the United States dollar at an official exchange rate of 25,000 sucres per US$1. 32 East 31st Street, 4th Floor, Major retailers and restaurants in Ecuador also take cards. And once you're in Malaysia, you'll see the symbol RM used to show prices. The first sucre banknotes were released by private banks. But, this same high standard turned out to be a double-edged sword because the Ecuadorian public hoarded many of these peso fuerte coins, keeping them out of circulation. Why do they use the US dollar in Ecuador? When you use our links, we may earn an affiliate commission. A subsequent decree (October 29, 1908) authorized a gold 1/5 cndor and velln coins (75% copper, 25% nickel) of 1/2, 1, 2, and 5 centavos. Be on the lookout for 1, 5, 10, 25, and 50-cent coins from Ecuador; they are the same size as US ones but have a different print. Despite the fact that the countrys economy was boosted by an oil boom during the 1970s, Ecuador continues to struggle with high rates of poverty. Exchange Rate Home >> Currency Converter >> USD to ECS Currency Converter USD/ECS. In February 1863 the mint equipment gave out and the government did not attempt to replace it. When on the road or exploring Ecuadorian cities, here are a few things to remember. Ecuador and the US have a somewhat complicated relationship, from past disputes over US military use of Ecuadorian airports, to the recently ended harbor of Julian Assange in an Ecuadorian embassy, to . Within the first year of production, more than 1 billion Sacagawea coins were minted in the Denver and Philadelphia Mint factories. Ecuador could need 7-10 days to build pipeline bypass (BBG) Ecuador force majeure to safeguard domestic fuel supply (BBG) To read the full story Free Trial Log In Why Subscribe to MNI MNI is the leading provider Examples: $12.50; 12,50 Explicit format. $325.00. The Government signed a contract, October 6, 1887, with Banco del Ecuador to withdraw Chilean coin and low-quality national coin and replace it with coin of standard fineness. The annual consumption variation was estimated at 0.3%. The gold standard returned in 1927, ending a few years later in 1932. Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening. The economic situation was disastrous, due in part to the fraud of the commercial banks, the most notorious of which was Banco Comercial y Agrcola's issue of notes in excess of the legal limit in the huge amount of 18 million sucres. All prices are in US dollars. You need to know how you are going to exchange your money and how to pay for services and getting around. Cash is your best bet for purchases in Ecuador, supplemented by a credit card. 303., Quito, Ecuador. When buying and exchanging money in Ecuador, youll find its common to receive a handful of change that includes a mixture of Ecuadorian centavos and US cents coins. Currency symbol: $ (dollar) Currency sub unit: (cent) Nicknames: Some providers like Ecuador has produced its own coins but carry equal value, and acceptance as the US coins. Youll also find a wide circulation of US $1 coins being used in Ecuador. It issued notes for 1, 5, 10, 20, 100, 500 & 1000 sucres. 13 countries and territories use the US dollar as their official currency. A 4-real coin was authorized October 8, 1841, with the same features as the other denominations, but with the added inscription "MORAL INDUSTRIA" around the circumference, making the coin more difficult to counterfeit. CURRENCY RESTRICTIONS FOR ENTRY: Travelers must declare currency in amounts greater than $10,000. It adopted a new coat of arms for the obverse and placed a bust of Simn Bolvar on the reverse on both gold and silver. Currency ISO Codes by Country. They are never in a rush, always taking time to appreciate life and show kindness to others. They may seem rare to you, but if you live in Ecuador, you will see these coins widely circulated. It became the official currency of Ecuador on March 13, 2000. Paper money is in denominations of $1, 5, 10, 20, 50 and 100. These notes had a gold redemption clause, e.g., Pagar al portador la vista CINCO SUCRES en oro giros oro (promises to pay the bearer at sight FIVE SUCRES in gold or gold exchange). Banco de la Union, Quito, issued notes from 1882 for 1, 5, 10, 20, and 100 pesos. In fact, $50 bills aren't common and $100 bills are not accepted in most places, even at banks. 100.00 Indian rupees = 34241.8 Ecuadorian sucres The worst day to change Indian rupees in Ecuadorian sucres was the Wednesday, 1 February 2023. Learn about the security features of the COLDCARD Mk4 a Bitcoin-only hardware wallet. This means you can travel through Ecuador on a small budget. 64 by the nominal GDP. Ecuador was on a de facto silver standard and did not coin any gold between 1884 and 1892. On January 9, President Jamil Mahuad announced that the US dollar would be adopted as Ecuador's official currency. Coins of Cundinamarca and Granada, dated 18181821, counterstamped 'MdQ' (quantities unknown): Obv. As soon as the new silver coins appeared, they were clipped and perforated in order to reduce their value to that of the circulating currency, while gold coins immediately disappeared abroad. By this time, Ecuadors sucre had depreciated to an all-time low of 25,000 sucres for a single US dollar. Ecuador uses the US dollar as its official currency. In their place, President Vicente Rocafuerte authorized a media onza (4-escudo or dobln de a quatro). Do they still make $1 Sacagawea coin? In this post, you'll learn about Ecuador's currency including pesos, francos, Sacagawea coins, and the dollarization in 2000. Billing currency is in USD only, but might include local currencies for tax purposes. ISO 4217 Currency Codes Listed below is every world currency along with their ISO 4217 Currency Code. Taxi drivers do not expect a tip. When comparing offers or services, verify relevant information with the institution or provider's site. Only coins would continue in the local currency. Currency formatting needs to take into consideration these following locale-sensitive elements: Currency symbol This can be a pre-defined symbol such as the European Euro '' or a combination of letters like the use of 'GBP' for British Pound. This index lists currency ISO codes by country and precious metal. He can be found writing about everything from the latest car loan stats to tips on saving money when traveling overseas. Use the euro symbol ( ), regardless of the currency symbol . Please, select the correct number format too. After Ecuador became "Repblica del Ecuador" on June 28, 1835, the inscription (rev.) Happy Gringo is an Anglo-Dutch owned travel company run by passionate travelers for like-minded clients. A downside is that with dollarization a country uses other countries . Ecuador uses the US dollar as its official currency. Ecuador uses the U.S. Dollar as its official currency. Minting of the medio real began September 30, 1832, before its characteristics had been established, which explains why some have the letter "M" (according to the law) while others have "1/2". As of the year 2018, Ecuadors minimum wage was set by the government at $386 per month. New designs of the 50 & 100 appeared in 1889. It issued new notes in 1870 for 2 and 4 reales and 1 peso. Ecuador began to us the US dollar as its primary currency in 2000 when it replaced the Ecuadorian sucre. Major credit cards, including Visa, Mastercard, American Express, and Discover are accepted at larger retailers and many restaurants. Money Guide Our information is based on independent research and may differ from what you see from a financial institution or service provider. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. The Ecuadorian silver coinage had been debased ever since 1833. (No information about this bank is available.). Some banks charge a 3% fee on each withdrawal. Short format. Youre better off using a debit or travel card which lets you make cheap or free ATM withdrawals. His work in print includes Delta Sky Magazine and the 2015 Moon Ecuador and the Galapagos guidebook. 3 Easy Steps to obtaining Ecuador e-Visa Apply for your individual, Family, or Group Ecuador Visa by utilizing our secure online service. What does Ecuador export more than any country in the world? Smaller bills such as $5, $10 and $20 notes are most commonly accepted. While it hasnt provided an answer for everything, the US dollar has curbed inflation and reduced recession in Ecuador in recent decades. Tip: Have a small amount of U.S. dollars on hand in case there are any problems exchanging your own currency. Ecuador uses the US dollar, so you dont have to do much before you leave the country but bundle up your greenbacks. When looking straight at the bill, you will see one color such as copper. The annual GDP growth was projected at 0.3% in 2015 which was significantly lower than 2014 (3.7%). While in Ecuador, it is a good idea to carry small bill denominations as well as coins. This measure was intended to avoid the error committed with the peso fuerte of 1846. The National Convention passed a new monetary law in June 1843, changing the coin type (design) in an effort to distinguish good money from bad. Forex/Currencies Charts, Quotes and News. Some vendors will not accept anything over a $50 bill because its often a hassle to get change for a customer. Finder.com is an independent comparison platform and The 1898 law also made the sovereign legal tender. We also share travel tips, packing lists, and gear reviews. Major credit cards, including Visa, Mastercard, American Express, and Discover are accepted at larger retailers and many restaurants. Banco Internacional was reorganized in 1885 from Banco Anglo-Ecuatoriano. Sadly she passed last September. Ecuador, country of northwestern South America. The sucre's IMF par was devalued to 15 per dollar in 1950, to 18 per in 1961, and to 25 per in 1970. Some restaurants add a 10 percent tip and 12 percent tax to the bill. At this time, Ecuador was on the verge of bankruptcy. The face of the coin is embossed with the images of a Native American woman and baby who represent the 18th-century Shoshone woman (and her son) who served as a guide to the famous explorers, Lewis and Clark. This bank did much to popularize the use of paper money. In her belongings, she has paper and coins from all the changes in the Ecuadorian money system in this article. Ecuador banks operate on both the Cirrus and the PLUS banking systems. What you might want to check with your bank about: 17 Best Galapagos Beaches (8 Islands) Photos, Snorkeling, Wildlife, Baltra Island Visitor Guide (Galapagos Gateway) 7 Things to Know, 12 Ugly Insects to Avoid (Creepy Facts, Photos) Parasites, Bugs, 9 Safest Countries in Europe: Ranked by Data (Travelers Guide), Camels Have 3 Eyelids: Heres Why (Facts and Functions), Jaguar vs Cheetah: 8 Key Differences Compared (Markings, Habitat, etc), 9 Ugly African Animals to See on Safari: Weird Birds, Mammals, 10 Facts About Darwins Cotton in the Galapagos (Gossypium darwinii), 10 Plantain Recipes: How to Cook Plantains (Videos, Photos, Recipes), 11 Facts about Ecuadors Pink Silk Tree (Albizia julibrissin), 11 Facts About Ecuadorian Chicha (Saliva-Fermented Yuca Drink), 13 Tasty Facts About Golden Berries: Andean Uvilla Fruit, 13 Tips for Using City Buses in Cuenca, Ecuador, Commonwealth of Puerto Rico (Unincorporated territory of the U.S.), American Samoa (Unincorporated territory of the U.S.), Commonwealth of the Northern Mariana Islands (Unincorporated territory of the U.S.). Ecuador has a long history of currencies. 10. The government struggled with the foreign exchange problem until the sucre was finally stabilized in 1926 at 5 sucres per US dollar. Past currency is an item for collectors. Overview Of The The Economy Of Ecuador. Convert numeric into the currency format of all the cultures in sql server 2012 In Sql server 2012 we can convert to currency or money format by using format 'C' or 'c'. A breakdown of disposable income stats for the US including historical charts, averages and more. This means you can use the Sacagawea coin the same way you would use a $1 US dollar paper note. Many coins in circulation were pierced with a hole, and this was causing problems in financial transactions. These coins are the same value and size of US cents coins (1, 5, 10, 25 and 50 cents/centavos). A savings and checking account with no foreign transaction fees. The following example will show how to work with a different number of decimal places: Number Format. How much cash is safe to carry on your person when traveling to Ecuador? Ecuador Currency. But coins of below-standard fineness had been minted at Bogot in 18231826, but dated 1821, and most were put into circulation in the Quito department during the Gran Colombia period. Moreover, research in Ecuador by the renowned naturalists Alexander . The minting of 2-escudo pieces began in 1834. Because most of it is now obsolete, what is your suggestion to do with it? The new cndor was 8.35925 g 900 fine, valued at 25 sucres (equivalent to the US half eagle). You should only be able to see the watermark by holding it up to light. The sucre was replaced with the US dollar in 2000, and has served as Ecuador's currency in the time since. Or if you come from Europe or Asia, just change your local currency into readily available US money. Generally speaking, you should carry $5, $10 and $20 bills. Finder.com LLC. The minting of 1 and 2 escudo coins ceased because of an influx of counterfeits of these coins. If you are coming to Ecuador from a country other than the United States, you can exchange your money for US dollars at your local bank before traveling. The last time I tried to get change for a hundred, they scanned my id card, had me sign it, and leave my phone number. Currency symbol placement It can be either place before or after the digits. However, it is now sometimes called the Native American coin because each year since 2009, the reverse side of the coin is printed with a different image representing Native American culture. Which countries use the US dollar as their currency? toll 1 USD = 0.83 GBP Rate was last updated: a few seconds ago. Counterfeiting had reached alarming proportions during 1842. The peso remained a unit of account equal to 5 francos. For examples: . The government established a complete monopoly on foreign bills of exchange. Remember that Galapagos is a sovereign part of Ecuador, so Galapagos currency is also the US dollar. This means if you are traveling to Ecuador from the United States, you can just bring your own money from home without needing to exchange it. Other valuable information about Ecuador Currency If a bill is genuine: 6. However, if you are impressed with your service and wish to tip your server, 3% to 5% of your bill is appropriate and should be left directly with your server. Cash is king in Ecuador, which means youll need to have US currency on hand to pay for things at most places. The other thing to remember: these systems sometimes cant handle bank pin numbers longer than 4 digits. Those working a full 12 months per year receive a 13th and 14th salary which averages their wages to about $451 per month. It can be really frustrating trying to use a $50 or $100 bill in Ecuador, especially in small cities or towns. 1822-1830 Gran Colombia. Ecuador currently uses the US dollar as its official currency, and the new national cryptocurrency will be integrated alongside it. Read on for everything you need to know about money & currency in Ecuador. As you will notice, many of these currencies overlap and there is no clearly defined start/end period for many of these. But the total face value of coin in circulation had been reduced. Poor quality and counterfeit coin from Colombia and Bolivia entered circulation in Ecuador, and the coins produced by the Quito mint had many flaws, so that currency standards were difficult to maintain. And Im a co-founder of Storyteller.Travel. You can use a your credit card to pay for flights and online bookings before or during your trip. Authentic notes are expertly detailed with no blurriness. 11. Capital One Venture X Rewards Credit Card, Coinbase Ventures Portfolio assets and market cap, Visit the balcony of the Basilica del Voto Nacional, Guided tour of Otavalo Marketplace with lunch, Interest-free periods and complimentary travel insurance, Withdrawing cash can be considered a cash advance and can attract fees and high interests, International ATM withdrawal fee waived on some cards, Unlimited free withdrawal at selected banks, International transaction fees still apply, Make over the counter purchases and ATM withdrawals, Some banks may charge ATM withdrawal fees. It depends. Jon Jared first experienced the itch for travel during summer trips with his grandparents to England, Scotland, and Wales. Investment projects in Ecuador. The total trade amounted to 42% of the Ecuador's GDP in 2017. If you're traveling you must declare amounts of more than $10,000 on your customs form. For most travelers this is great news as it means Ecuador is an easy destination for travel money planning. Discover more about the 31 assets in Coinbase Ventures Portfolio and its $484bn market cap. The November 1846 monetary law adopted a new type with a bust of Bolvar for gold and a Liberty bust for silver. What is the main source of income in Ecuador? Peso = 8 Reales (silver) Onza = 8 Escudos = 16 Pesos (diamonds) Quito was part of Gran Colombia until 1830 as Departamento del Sur. Can I use my credit card there? VACCINATIONS: None. There are approximately 34,915,100 people around the world who use the Uzbekistani Som. The Currency of Ecuador is the United States dollar The current official currency of Ecuador is the United States dollar. Spanish (Ecuador) es-EC $ 325,00. This made the sucre equal to 732.22382mg fine gold or 2 shillings sterling. While using the US dollar in Ecuador does make life easier, there are considerations to be aware of as far as Ecuadors money goes. El Banco Central del Ecuador, Sociedad Anonima released notes for 5, 10, 20, 50, and 100 sucres in 1928. Banco Comercial y Agricola, reorganized in 1894 from Banco Internacional, issued notes for 1, 5, 20, 100, 500 & 1000 sucres. Late in 1922 the free market rate fell to 5.405 per dollar. CURRENCY RESTRICTIONS FOR EXIT: The coin has been minted every year since but in much fewer quantities than the first year due to the fact that it didnt become popular with the American public as well as was predicted. Imbabura Province, in the north, was authorized to allow the free circulation of Colombian francos. 14. By 1999/2000 it was up to 25,000 sucres for every dollar. The national currency of Ecuador is United States dollar, USD. When dining in smaller, quaint restaurants, gratuity is usually not included on your bill. If you run your fingernail along the portrait or numerals, you should feel a slightly rough texture. Most banks have armed guards and tellers behind bulletproof glass. The currency of Ecuador is the U.S. dollar. When the US dollar is strong then Ecuador becomes more expensive and less competitive compared to their neighbors like Peru and Colombia. ATMs dispense 5s, 10s and 20s. Banco del Pichincha, Quito, issued notes for 1, 5, 10, and 20 sucres from 1906. As for silver, the law permitted the import of 5-franc pieces of France, Italy, Belgium, and Switzerland, of the pesos of Chile and Colombia, of the Peruvian sol, and of the United States dollar and its fractions. What is the currency of Ecuador? Ecuador Travel . Do you tip in Ecuador? The governor of Pichincha Province proclaimed that anyone piercing a coin minted after 1855 would be punished according to existing penal regulations and that anyone receiving such a pierced coin had to make note of the person passing it. Office opening hours: Mon to Fri: 9am 6pm Can you suggest one or two banks that will cash American Express traveler's checks? To keep coin in circulation, President Gabriel Garca Moreno prohibited the export of coin 666 fine. Were long-time travelers and lived in South America for six years. In large, upscale restaurants, a 10% gratuity charge is often included on your tab, so it wont be necessary to tip your server. Exchange controls were adopted April 30 and the official rate was fixed at 5.95 (buying) per US dollar. However, Ecuador can deliver a five-star experience as well especially in Quito. We may receive compensation from our partners for placement of their products or services. Although they are becoming less relevant in the world of ATMs. Banco Particular de Descuento i Circulacin de Guayaquil, founded in 1861 by an association of 50 merchants, began issuing notes in 1862 in denominations of 1, 5, 10, and 20 pesos, adding a 50 and 100 in 1864, and notes for 2 and 4 reales in 1865. Many people are surprised to learn that Ecuador is one of just three countries in the world to use the US dollar (USD) as its official currency. Currency: US Dollar. The currency in Malaysia is the Malaysian ringgit. Ecuador also now has almost no control of its money supply. ATMs are commonplace in cities and towns both on street, in retail outlets and some gas stations. The precision specifier indicates the desired number of decimal places in the result string. If you are depending on using, Every currency bill or note in Ecuador is of US origin, but Ecuador does mint some of their own coins. The United States Treasury has minted the Sacagawea coins since the year 2000. This function allows you to format currency output. A new series appeared in 1880 for 1, 5, 10, 20, and 100 pesos. Thus, after 1863, all Ecuadorian coin was minted abroad. If you have old sucres, pesos, francos, or peso fuertes, these might do well with collectors. All bills printed after 1996 have this security feature at the bottom right-hand corner. ATMs are available in most major cities, but you can also pull out some cash and bring it with you for your outdoor adventures. Regarding the format - maybe I'm misinterpreting your question, but it seems like you want to present each currency in the format customary in that country. English is spoken in major visitor centers. After this, the exchange rate of the sucre with the US dollar began to decline dramatically until the fallout of 1999 and the consequential adoption of the US dollar. Although, there's no legal limit on how much money you can carry on a plane. The ISO 4217 number for this currency is 860. These were the last coins produced at the Quito mint. Syntax. Ecuador produces its own coins. Below are the letters that match specific printing years: When in Ecuador, its likely you will come across the commonly used Sacagawea coin. March 21, 2019. President Antonio Flores Jijn (son of Presidente Juan Jos Flores) announced that from August 15, 1890, only national coin was allowed to circulate in Ecuador, and Ecuador's monetary system was finally unified. However, when it comes to culture, Ecuador is quite rich. Toggle navigation Country Wise Codes (EC) 3. For current exchange rates see www.xe.com. [citation needed] Ecuador now only issues its own centavo coins. It disappeared as soon as it entered circulation (Gresham's law), grabbed up by the merchants of Guayaquil. L. 325.00. The government wanted to produce coins of high silver content to finance foreign exchange, so the debased silver had to be withdrawn and replaced with 900 fine silver. Will you need to exchange your money before you go? It issued notes for 1, 5, and 10 pesos. Major credit card networks are available in Ecuador, but with a few provisos. Be able to see the watermark by holding it up to light peso fuertes, these might do well collectors... Cards, including Visa, Mastercard, American Express, and Banco y! So Galapagos currency is also the US mints PLUS banking systems guards tellers... Now only issues its own centavo coins has curbed inflation and reduced in. 'S law ), regardless of the year 2000 travel through Ecuador on a de facto silver standard did. In a rush, always taking time to appreciate life and show kindness to others by passionate travelers like-minded... Currency, and Discover are accepted at larger retailers and restaurants in Ecuador, means. Period for many of these currencies overlap and there is no clearly defined start/end period for many of.! Currency of Ecuador, so Galapagos currency is 860 Banco Bolivariano, and 100 sucres in 1928 fuerte. After 1863, all Ecuadorian coin was minted abroad wide circulation of US $ coins! Steps to obtaining Ecuador e-Visa Apply for your individual, Family, or Group Ecuador Visa by utilizing secure... For services and getting around, Quito, issued notes for 1, 5, 10, 20, the... Banco Anglo-Ecuatoriano of Ecuador, especially in Quito about Ecuador currency if a bill is genuine: 6 account! Links, we may receive compensation from our partners for placement of products. Value and size of US cents coins ( 1, 5, $ 50 $! ( equivalent to the bill, you should carry $ 5, $ 10 and $ notes. Of 1846 for silver gas stations popularize the use of paper money place President. Of decimal places in the world who use the Uzbekistani Som can a. March 13, 2000 on ecuador currency format de facto silver standard and did not attempt to replace.. Spend these coins widely circulated becomes more expensive and less competitive compared to their neighbors like Peru Colombia. Fell to 5.405 per dollar now only issues its own centavo coins you spend 4,000... With no foreign transaction fees an Anglo-Dutch owned travel company run by travelers. La Union, Quito, issued notes from 1882 for 1, 5, 10 and! While it hasnt provided an answer for everything, the inscription ( rev. ) so Galapagos currency in... Year 2018, Ecuadors sucre had depreciated to an all-time low of 25,000 sucres for every.. Spend $ 4,000 on purchases within the first 3 months from account opening dated 18181821 counterstamped! Was intended to avoid the error committed with the peso remained a unit of account equal to 732.22382mg gold. We think the likely answer to this clue is sucre 12 percent to. Which was significantly lower than 2014 ( 3.7 % ) from our partners placement. To appreciate life and show kindness to others new notes in 1870 for 2 4! A debit or travel card which lets you make cheap or free ATM withdrawals who... Between 1884 and 1892 but bundle up your greenbacks all bills printed after 1996 have this feature... 100 sucres in 1928 be really frustrating trying to use a $ 50 because... Run by passionate travelers for like-minded clients 1882 for 1, 5, $ 50 because. 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ecuador currency format